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Credit union mortgage lending robust in high-minority areas
In 2016, federally insured credit unions did a very good job penetrating majority minority census tracts. Recent redlining cases brought by CFPB and DOJ advanced an approach to market penetration analysis that looks at how individual lender’s shares of market activity varies by census tract demographics. Similarly, the analysis presented here looked at credit unions’…
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Approaches to Peer Analysis in LendingPatterns™
One of the great features of LendingPatterns™ is that any lender’s diverse lending performance can be analyzed in the context of other lenders in the same market. This is the only way a given lender’s performance can be said to be above or below expectations. Sometimes this is referred to as comparing a lender against…
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12 Questions to ask a Fair Lending Software Vendor
Finding a fair lending compliance tool to make it easier for you to efficiently and effectively monitor your lending data is a challenge. Knowing exactly what to ask the vendor can ease the selection process. Below are twelve suggested questions to ask: How long has the company been doing business in the fair lending industry?…
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Uncover Loan Production Opportunities Using HMDA Data
Say the word “HMDA” to a mortgage lender and the first things that come to mind are data collection, filing deadline and fair lending compliance. After the HMDA-LAR has been submitted, wise compliance officers turn their attention to analyzing their data for fair lending risks. Even wiser compliance officers will involve other departments outside of…
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Time to be conscious of changing demographics
It is a good idea to study your top markets and familiarize yourself with the changing demographics in those geographies. But especially now, as the data used in market penetration analyses are changing, it would be wise to devote some attention to demographics. Recent redlining cases brought by CFPB and DOJ advanced an approach to…
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Pathway to Fair Lending Excellence
ComplianceTech is featured in this month’s Banking CIO Outlook. Maurice Jourdain-Earl, Managing Director, of ComplianceTech spoke to editors about ComplianceTech and our fair lending analytical tools. The article appears in Banking CIO Outlook. .
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Wall Street Journal Article – Tax Law Could Further Slow Down a Bank Favorite: Jumbo Mortgages
The Wall Street Journal utilized LendingPatterns.com for data used in an article on Jumbo Mortgages. Click here to read the article.
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Features of Fair Lending Magic™
Getting Started Register online and get started with fair lending analysis the same day Prepare HMDA data and test for early compliance with 2018 HMDA submission specifications Import data from any LOS or servicing system Assess the quantity and quality of data through intelligent data verification module No multi-year contract obligation Guided Analysis User-friendly dashboard…
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Mortgage Lending and the Community Reinvestment Act: Does CRA Make a Difference?
Read the December Fair Lending Guide in Mortgage Compliance Magazine. It contains insights from Michael Taliefero, Managing Director of ComplianceTech. Article Preview: The Community Reinvestment Act (CRA), enacted by Congress in 1977, is designed to encourage depository institutions to help meet the credit needs of the low/moderate income (LMI) borrowers or LMI communities from which…
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The 2016 HMDA Data and the Avalanche of Data to Come
Read the November Fair Lending Guide in Mortgage Compliance Magazine. It has interesting insights from Michael Taliefero, Managing Director of ComplianceTech. Article Preview Things are getting very interesting on the HMDA data front. Near the end of September 2017, the 2016 public HMDA data was released. By April 1, 2018, the 2017 national HMDA database…